Share on LinkedInShare on LinkedIn

ARTICLE · 16 APRIL 2019

The Evolution Of Cyber Security In The Nigerian Banking Sector

AELEX
AELEX
Contributor
Explore more from AELEX

Nigeria moved from a country with zero legislation on cyber security to a country with an extensive law with the enactment of the Cybercrime (Prohibition, Prevention, Etc.) Act ("the Act") in 2015.

NigeriaTechnology
Florence Bola-Balogun
Florence Bola-Balogun
Author LinkedIn connections

Nigeria moved from a country with zero legislation on cyber security to a country with an extensive law with the enactment of the Cybercrime (Prohibition, Prevention, Etc.) Act ("the Act") in 2015.

The Act prescribes punishment for specific actions such as cybersquatting, cyberstalking, identity theft, unlawful access to a computer (popularly called hacking), cyber terrorism, racism and xenophobic crimes.1 The Act also establishes the Cybercrime Advisory Council which is constituted by representatives of almost all the law enforcement agencies in Nigeria.2 The Cybercrime Advisory Council is responsible for policy formulation,while the Office of the National Security Adviser (ONSA) is responsible for the enforcement of the Act.3

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Virtual Asset Service Provider (VASP) Licences In Kenya & Nigeria - What You Need To Know

Kenya and Nigeria are formalizing their digital asset markets through Virtual Asset Service Provider (VASP) licensing frameworks. While both countries require regulatory approval for crypto operations, their licensing categories, capital requirements, and compliance expectations differ significantly. Understanding these distinctions is essential for fintech founders and financial institutions seeking to enter or expand in these African markets.
NigeriaTechnology
Pavestones
Pavestones
Article

Nigeria’s National Digital Cloud Policy: Key Provisions And Implications For Business

On 17 August 2026, Nigeria's Federal Government released its National Digital Cloud Policy, superseding the 2019 framework to establish a domestic cloud and data infrastructure ecosystem. The Policy introduces fiscal and regulatory incentives for qualifying investors, mandates cloud-first adoption across government agencies, and implements a four-tier sovereign data classification system that confines data residency requirements to specific categories rather than imposing blanket localisation.
NigeriaTechnology
Templars
Templars
Article

Nigeria's 15% Minimum Effective Tax Rate (Metr): Analysis For Multinational Enterprises And Large Domestic Companies

A major innovation introduced by the Nigeria Tax Act (the “NTA”) is the 15% Minimum Effective Tax Rate (the “METR”), which represents a fundamental shift in Nigeria’s corporate tax framework. The METR is intended to guarantee that companies of significant economic scale bear a minimum tax burden, notwithstanding the availability of incentives, exemptions, or reliefs.
NigeriaTax
AELEX
AELEX
Article

Innovative Trade Finance: Promoting Inclusivity, Resilience And Interoperability Through Digitalisation

The increasing digitalisation of global commerce fundamentally transforms how Trade Finance is deployed and accessed by businesses. The International Chamber of Commerce (“the ICC”) defines Trade Finance as the invisible bridge that makes global trade flow. Trade Finance connects entities across continents, mitigates payment risks and is enzymatic to market progression and economic stability.
NigeriaInternational Law
AELEX
AELEX
Article

Data Localisation In Nigeria: Separating Myth From Reality

Artificial intelligence, cloud computing, cybersecurity and digital sovereignty have fundamentally changed the way governments think about data. Around the world, policymakers are increasingly asking where data should be stored, who should have access to it and under what circumstances it should leave national borders. These questions are no longer confined to technology policy, they have become matters of economic policy, national security, industrial development and international trade.
NigeriaTechnology
AELEX
AELEX